9 Startups Graduates from GenNext Hub Summer 2016 Program
With its diverse portfolio of businesses across various sectors and domains, RIL is able to provide the testing bed for the startups to validate their technology and business, execute Proof of Concept (PoC) and develop win-win partnerships.
GenNext Hub is the startup scalerator by Reliance Industries Limited (RIL) that is nurturing digital entrepreneurship in India. At GenNext Hub, RIL is catalysing a unique start-up ecosystem, which rests on the tripod of talent, technology and trust. This venture is aimed at spotting and encouraging ‘talent’, helping them harness their ‘technology’ and backing them by putting total ‘trust’ in them. During the four-month-long programme, GenNext Hub conducts workshops and mentoring sessions for start-ups in the areas of customer development, market traction, operations, product roadmap, fund raising and pitching. It also provides expertise in IP, legal, financial compliance, HR and specific sectorial expertise. GenNext Hub is uniquely positioned as a global programme that helps start-ups think big and grow fast.
GenNext Hub RELAY, the graduation ceremony of the 9 startups of the Summer 2016 cohort is scheduled on Tuesday, 20th September 2016. The cohort of Summer 2016 is the third batch of startups to participate in the GenNext Hub scalerator program. These 9 startups were selected from a pool of over 500 qualified applications received from startups spread across the length and breadth of India, and abroad. With a stringent acceptance ratio of 50:1, the selection process also included a jury made up of senior RIL management, established entrepreneurs, renowned investors and industry thought-leaders. To be selected, the startup has to be a registered entity, have a strong founding team consisting of a mix of business and technical expertise, a commercialized product with rich intellectual property and market traction.
With its structured program, GenNext Hub is able to revisit, refine and reinforce the startups’ core product offering and business model. Its rich mentor panel consists of thought-leaders, industry icons, subject matter experts and established entrepreneurs. Along with the external mentors, startups at GenNext Hub also have access to select leaders of RIL for business and technology guidance. The resources made available through GenNext Hub’s global partner network including Microsoft Accelerator, offers startups a holistic support system. Startups leverage the networking events organized by GenNext Hub for both customer and investor connects.
What truly makes GenNext Hub a Scalerator is the unparalleled access to Reliance Industries Limited (RIL) for the startups to potentially collaborate and co-innovate. With its diverse portfolio of businesses across various sectors and domains, RIL is able to provide the testing bed for the startups to validate their technology and business, execute Proof of Concept (PoC) and develop win-win partnerships.
Startups of Summer 2016:
• Codemojo: Retaining users is a tough job in today’s competitive world of apps and websites. Codemojo offers customer engagement with 10 lines of code & 10 minutes of API integration for omni channel businesses to increase daily & monthly active user base through loyalty, behavior, gamification, referral, wallet, etc. According to the company, the cost of retaining a loyal user is currently $4 with a 125% Year-on-Year (YoY) increase translating into a $40 Billion market. Codemojo has recently raised investment from CIO Angel Network (CAN).
• DATTUS: About 75% of the industrial equipment are over 20 years old and costs $100 Billion annually due to downtime. DATTUS is an industrial IoT company providing seamless hardware and software solutions to sense, connect, visualize and analyze industrial equipment to ensure a long lifespan and to reduce the cost of maintenance. The company was founded by winning multiple business plan competitions through which they raised $250,000. They are the winner of the MIRA Awards, ‘The Best of Tech in Indiana’ for 2016. Recently they have raised Series Seed round from U.S. based venture capitalists.
• Don't Scratch Your Head (DSYH): Lack of seamless reconciliation of sales and inventory causes significant losses for sellers on e-commerce market places. DSYH is next generation data-analytics company that solves the reconciliation problem with a cloud-based solution. The company has engaged major market places and retailers in the Indian ecosystem to address the $500+ Million opportunity and has raised $250,000 angel investment from Venture Catalysts.
• Happy2Refer (H2R): It is a pain to reach and engage quality passive talent through traditional job portals and recruiters. H2R is changing the way of hiring by leveraging the power of multi-degree referrals to spot and engage passive talent. The company says that the Indian staffing market is a $4.2 Billion opportunity and it has already acquired an impressive list of clientele including Nestle, Colgate-Palmolive, Shaadi.com, etc.
• Headspin: With growing number of mobile devices being used in various cellular networks, it is very challenging for app developers to understand how their apps behave from remote locations. Backed by Google Ventures and other major Silicon Valley based investors, Headspin makes it possible to test apps on any device with real SIM cards over cloud on massive scale. Potentially all apps with 500,000+ global users will need Headspin.
• Megdap: Only 10% of India’s population speaks English while majority of the digital communication happens in English. Megdap solves this problem through TexLang, a language technology platform for near time & accurate language translation. Megdap is engaged with major banking customers.
• NavStik: Each commercial drone application is unique and requires high level of customization. Through a single platform called FlytOS, NavStik Labs is able to address the unique need of every commercial drone application. The market opportunity is estimated to reach $100+ Billion by 2022. NavStik has recently raised investment from 7 prominent angel investors.
• Recipe Book: Figuring out what to cook on a daily basis is always a challenge given today’s busy lifestyle. Recipe Book is an app that makes it extremely easy to discover new and interesting recipes. The app is an intelligent recipe recommendation and discovery platform based on Image Recognition and Natural Learning Processing (NLP). They were featured in Google I/O 2016 and was the first Indian app to be in Google Play Editors’ Choice. You can download the Android app by clicking here (http://tinyurl.com/z8xxub8).
• Tagalys: Personalizing online retailers’ website to match the individual users’ taste is a big challenge that leads to lower conversion to sales. Tagalys maximizes e-commerce revenues by personalizing visitor-product engagement across features like site search, browsing and recommendations. Tagalys is targeting customers with more than $5 Million of annual revenues which leads to an estimated total market opportunity of approximately $5 Billion.
The applications for the Winter 2016 program are open until Sunday, 2nd October 2016. Interested startups may click here to apply now!
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